RBI sets new deposit interest rate rules from October 1

RBI's revised deposit interest rate framework takes effect from October 1, 2026.

Banks must offer the same interest rate across all branches for deposits of similar amounts accepted on the same day.

Banks must publish their schedule of deposit interest rates on their websites in advance.

For bulk deposits, banks must upload applicable interest rates on their websites by 10:00 am on every business day, with a grace period until 10:10 am.

The directions apply to commercial banks, small finance banks, regional rural banks (RRBs), local area banks, payment banks, and urban cooperative banks.